Bill No.: SF0004                  Drafter:  LGC

LSO No.:  08LSO-0023              Effective Date:  7/1/2008

Enrolled Act No.:  SEA0003

Chapter No.:       12

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:       Foreclosure-redemption period.

Subject:            Redemption of agricultural real estate.

Summary/Major Elements:

· Current foreclosure law provides a one year redemption period for agricultural lands.

· This act expands the definition of agricultural lands for these purposes from twenty acres to eighty acres.